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Property Description

Investors take note! Now on the market and offering an incredible in-place cap rate of over 15%, this strip center features two parcels, with a two-floor, 12,000 square foot main building that is 70% occupied by a Fortune 500 backed tenant on a triple net lease. The anchor tenant has occupied the property since 1989, and pays all but $1,400 of the yearly taxes. Vacant in the main building is approximately 3,300 square feet of office/retail space that represents a value add for potential investors, bumping the potential cap rate to over 20%! Also on the main parcel, there is a 1,000 square foot free-standing building that is leased to a local tenant, and currently used as retail space. The roof on the main building is new in 2017 and has a 10 year warranty. Owner is also offering for lease, the 3,300 square feet in the main building, divisible down to approximately 500 square feet, at $4.50/sf. The second parcel is directly across Main Street, and contains a fenced parking lot.

Features
: None
: Slab
: Wood frame
: Wood
Single Story
Professional service,retail,other
: Other
: Other, Interior maintenance, Janitorial, Real estate taxes
: Building insurance, Common area maintenance, Ext. maintenance (bldg), Ext. maintenance (grounds)
Address Map
United States
Illinois
Vermilion
Danville
61832
Main Street
806
Additional Information
$4,089
: Forced air
: City
: Sidewalks, Street lighting, Bus route, Outdoor sign, Cable dsl
0.80 Sqft
City
Listing Information
COLDWELL BANKER THE REAL ESTATE GROUP
Nate
Byram

Commercial For sale

806 Main Street, Danville, Illinois 61832

13,000 Sqft
$249,000
Listing ID #204793
Basic Details
Property Type : Commercial
Listing Type : For sale
Listing ID : 204793
Price : $249,000
Total Sq Ft : 13,000 Sqft
Year Built : 1971
Lot Area : 0.80 Sqft
Agent info
Classic Homes Realty
2315 N Vermilion, Danville IL 61832
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